MIRA INFORM REPORT

Report Date :

28.04.2011

IDENTIFICATION DETAILS

Name :	AB 52

Registered Office :	46 Rue Raphael Ponson,13008 Marseille 8

Country :	France

Financials (as on) :	31.12.2009

Date of Incorporation :	October 2006

Com. Reg. No.:	49235549000011

Legal Form :	Limited Liability Company

Line of Business :	Wholesale business textiles

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	Euro 50,000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

France

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company Summary

company details

Company Number

49235549000011

Name

AB 52

Activity(APE)

Commerce de gros (commerce interentreprises) de textiles

Share capital

60,000

Registration Court

Marseille (13)

Legal form

Limited Liability Company

Court Registry Number

20 0 6B033

Incorporation Date

10/2006

Formation Date

10/2006

Deregistration Date

Last account Date

31/12/2009

Nationality

France

Establishment details

Postal Address

46 RUE RAPHAEL PONSON,
13008 MARSEILLE 8,

Trading Address

46 RUE RAPHAEL PONSON,
13008 MARSEILLE 8,

Telephone

Fax

Type

Head office (one site company)

Status

Economically active

Formation Date

10/2006

Reason for formation

Formation

Closure Date

Reason for closure

Reactivation Date

Production Role

Activity Nature

Wholesale or intermediary of trade

Activity Location

On customer site

Location surface

Seasonality

Department

Bouches-du-Rhône(13)

Region

Côte d'Azur

District

Area

City

MARSEILLE 8

Size of urban area

Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches

1 branch entities in this company

Company number	49235549000011	Company name	AB 52
Type	Head office (one site company)	Activityape	Commerce de gros (commerce interentreprises) de textiles
Post Code	13008	City	MARSEILLE 8

Regionality

Mono-activity status

Workforces

Workforce at address

Workforce unknown

Company workforce

Workforce unknown

Limit
Credit Information
Credit Limit	Euro 50,000

Synthesized Accounts

Period
Annual Return	31/12/2009	31/12/2008	31/12/2007
Account period (month)	12	12	15
Account Type	Normal Account	Normal Account	Normal Account
Currency	Euro	Euro	Euro
Active account
Capital not called
Total fixed assets	56,149	69,850	47,537
- Intangible assets	1,763	1	1,820
- Tangible assets	47,636	64,600	40,467
- Financial assets	6,750	5,250	5,250
Net current assets	1,025,408	1,150,015	1,646,639
- Stocks	601,605	716,162	249,000
- Advanced payments	NaN	NaN	NaN
- Receivables	414,028	393,343	1,264,271
- Securities and cash	9,775	40,510	133,368
- Prepaid expenses
Account regularization	216	531
Total Assets	1,081,773	1,220,396	1,694,176
Passive Account
Shareholder equity	683,915	634,419	616,051
- of which share capital	60,000	60,000	60,000
Other capital resources
Provisions for risks & charges	50,216	55,531
Liabilities	347,635	525,396	1,078,125
- Financial liabilities	45,389	64,629	1,083
- Advanced payments received
- Trade account payables	244,590	368,563	763,338
- Tax and social liabilities	57,656	84,912	313,703
- Other debts and fixed assets liabilities	8	12,342
Account of regularization
Total liabilities	1,081,773	1,220,396	1,694,176
Profit & Loss
Operating income	2,245,557	3,282,585	3,016,573
Net turnover	2,143,244	3,271,879	3,016,540
- of which net export turnover	303,009	337,395	76,986
Operating charges	2,172,118	3,064,679	2,182,188
Operating profit/loss	73,439	217,906	834,385
Financial income	9,234	2,961	11,734
Financial charges	14,663	23,028	21,248
Financial profit/loss	-5,429	-20,066	-9,514
Pretax net operating income	68,010	197,840	824,871
Extraordinary income	5,000
Extraordinary charges	4,597	21,424	1,500
Extraordinary profit/loss	403	-21,424	-1,500
Net profit/loss	49,495	118,367	556,051

Event history

Status history

Date

Description

Company events history

Date	Description
09/11/2010	Private document
09/11/2010	Updated articles of association
09/11/2010	Sale of shares
09/11/2010	Minutes of general meeting of shareholders
28/09/2010	Bodacc C : Deposit accounts notice
31/12/2009	New accounts available
23/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
01/10/2008	Bodacc C : Deposit accounts notice
31/12/2007	New accounts available
01/03/2007	Private document
01/03/2007	Cession de parts
01/03/2007	Sale of shares
01/03/2007	Acte sous seingprivé
01/03/2007	Minutes of general meeting of shareholders
01/03/2007	Updated articles of association
17/10/2006	Company formation
17/10/2006	Private document
17/10/2006	Articles of association
17/10/2006	Acte sous seingprivé

Establishment events history

Date	Description
11/11/2010	Update Rating
11/11/2010	Update Limit
15/10/2010	Update Rating
15/10/2010	Update Limit
28/09/2010	Update Limit
26/09/2010	Update Rating
10/01/2010	Update Limit
10/01/2010	Update Rating
09/09/2009	Update Rating
09/09/2009	Update Limit
06/09/2009	Update Limit
05/09/2009	Update Rating
14/06/2009	Update Limit
13/06/2009	Update Rating
06/12/2008	Update Rating
06/12/2008	Update Limit
12/09/2008	Update Rating
12/09/2008	Update Limit
13/01/2008	Update Limit
16/12/2007	Update Limit

Directors

Name	M BENHAMOU LAURENT	Manager position	Gérant
Date of birth	15/04/1974	Place of birth	MARSEILLE
Type of manager	Individual	Name at birth of manager

Judgements / CCJs

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.40
UK Pound	1	Rs.73.26
Euro	1	Rs.65.17

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

Company Summary

Limit

Synthesized Accounts

Event history

Directors

Unit